What is corporate social responsibility and why is it important
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What is corporate social responsibility ?
Answer :
Corporate social responsibility (CSR) is a broad term used to describe a company's efforts to improve society in some way. These efforts can range from donating money to nonprofits to implementing environmentally-friendly policies in the workplace. CSR is important for companies, nonprofits, and employees alike.
Why responsibility important to a business?
Answer :
Social responsibility has become increasingly important to companies over the last several years. Whether it's by empowering women, helping the environment, or trying to end poverty, more and more companies are incorporating social responsibility into their overall business strategy. The social issues may be local, national, or global, but a concern for the health and wellness of others that do not involve sales can be seen as commendable. There are many reasons why a company might engage in social responsibility, and in this article, we'll outline a few of them.
●Improving the Company's Brand
●Engaging Customers
●Retaining Top Talent
●Helping Companies Stand out from the Competition
Example's of corporate social responsibility are ÷
1)Coca-Cola Company (KO)
2)Visa Inc. (V)